All categories

3 years ago

Hat's accounting records showed the following:

Business

1 answer:

levacccp [35]3 years ago

6 0

Answer:

D. $55,000

Explanation:

Sales = 250,000

Gross Profit = 250,000 x 40% = 100,000

Cost of goods sold = 250,000 - 100,000 = 150,000

Cost of good sold = Opening Inventory + Purchases - Closing Inventory

150,000 = 35,000 + 200,000 - Closing Inventory

150,000 = 235,000 - Closing Inventory

Closing Inventory = 235,000 - 150,000

Closing Inventory = 85,000

Inventory damaged by flood = 85,000 - 30,000 = 55,000

You might be interested in

The discounts lost account is used under the ___ method for inventory. multiple choice question. periodic gross perpetual net

maxonik [38]

The discount lost account is used under the net method for inventory.

<h3><u>What is discount?</u></h3>

When a security is trading for less than its intrinsic or basic value, it is said to be trading at a discount in the world of finance and investment.
When a bond's price is trading below its par value, or face value, in the fixed-income market, a discount is present.
The extent of the discount is equal to the difference between the price paid for a security and its par value.
Bonds may trade at a discount for a variety of reasons, such as rising interest rates, problems with the underlying company's credit, or riskiness when compared to comparable bonds.

The discount rate, an interest rate used to calculate the time worth of money, should not be confused with a discount.

Know more about discount with the help of the given link:

brainly.com/question/3541148

#SPJ4

7 0

2 years ago

What are examples of business, management, and administration careers?

Genrish500 [490]

<h2>Answer</h2>

Sales Manager
General Manager
Head of Administration

<h3>Explanation</h3>

Mentioned are some of the careers that fall in the stated categories. Business would include any career related with the field of finance, marketing, supply chain, distribution and so on. Management is more connected with positions where resources has to be managed and administration is one of the types of management.

3 0

3 years ago

Read 2 more answers

Acquiring a government job based on political loyalty, without regard to ability, is called

umka2103 [35]

Acquiring a government job based on political loyalty, without regard to ability, is called <span>political patronage.

Hope this helps you! :-)</span>

6 0

3 years ago

g Suppose that if GSI drops the price on the Glucoscan 3000 immediately, it can increase sales over the next year by 30% to 130,

Amanda [17]

Complete Question:

Glucose Scan Incorporated (GSI) currently sells its latest glucose monitor, the Glucoscan 3000, to diabetic patients for $129. GSI is considering lowering the sale price to $99 per unit. The cost of goods sold for each Glucoscan unit is $50, and GSI expects to sell 100,000 units over the next year. The marginal corporate tax rate is 40%. Suppose that if GSI drops the price on the Glucoscan 3000 to $99 immediately, it can increase sales over the next year by 30% to 130,000 units.

Also suppose that for each Glucoscan monitor sold, GSI expects additional sales of $100 per year on glucose testing strips and these strips have a gross profit margin of 75%. These strip sales occur on all monitor sales regardless of the price of the monitor. Including the increase in the sale of testing strips, the incremental impact of this price drop on the firms EBIT is closest to:

Answer:

$720,000

Explanation:

Incremental Earnings Before Interest and Tax Analysis

Details Current price Reduced price

Units Sold 100,000 130,000

Unit sales price <u> 129 </u> <u> 99 </u>

Sales Revenue $12,900,000 $12,870,000

Cost of Goods sold at $50 <u>5,000,000</u> <u>$6,500,000</u>

Gross Profit $7,900,000 $6,370,000

G. Profit on Strips sold at $75 <u>$7,500,000</u> <u>$9,750,000</u>

Total Gross Profit for the year $15,400,000 $16,120,000

The Net benefit of this price change is increase of Earnings before interest and tax by $720,000.

3 0

3 years ago

Gilda has an idea that would streamline operations, reduce costs, and increase profits. Her idea requires the cooperation of s

Jet001 [13]

Answer:

Evidence based.

Explanation:

Evidence: It is something that furnishes proof or testimony or something legally submitted to ascertain in the truth of matter.

Evidence basedis the conscientious (effort), explicit (clarity) and judicious (critical of quality) use of the best available evidence from multiple sources to increase the likelihood of a favourable outcome.

Characteristics:

- It’s about the process

- It’s not about certainties (this will work)

- It’s is about probabilities and likelihoods

- It is about reducing uncertainty (given our context this is more likely to lead to the outcome we want than doing something else or doing nothing)

7 0

3 years ago